Following major artificial intelligence (AI) corporations pursuing initial public offerings (IPOs), San Francisco's housing market is heating up as investors buy homes in advance due to a "FOMO (fear of missing out)" phenomenon. On the 11th (local time), Coldwell Banker said transactions of high-end dwellings priced at $10 million or more doubled in the past six months from a year earlier. Compass reported that in June there were 44 dwellings that sold for at least $1 million over the asking price. Compass agent Eric Jansen noted deals 25%–50% higher are frequent, and since the start of this year, 136 dwellings sold for $5 million or more, more than double the 67 during the same period last year. Behind this are expectations for large IPOs by OpenAI and Anthropic, each valued at up to $1 trillion. Sacra projected that listings by the three corporations, including SpaceX which recently completed its IPO, will create more than 16,000 millionaires and more than 20 billionaires. The Wall Street Journal reported buyers are rushing to purchase real estate ahead of the IPOs, and The New York Times noted homeowners are demanding pre-IPO shares as part of payment.